In this brief paper, published by the Centre for Policy Studies, the authors propose distributing the shares that the Government bought in RBS and Lloyds to all taxpayers. Taxpayers would repay the original stake only when they sold their shares on. This would:
- Give all taxpayers a windfall estimated at between £500 and £1000 each
- Ensure that the Treasury receives full value from their shares
- Help to restore popular support for our financial institutions.
Lord Saatchi, Chairman of the Centre for Policy Studies, comments:
“We gave the Government our money to invest in the banks. If there is a profit on our investment, that is our profit. Like any investor, we want it paid to us promptly and directly. We do not want it lost in the maze of other Government schemes and projects. The message is simple. If there is a gain on our bank shares, it is our gain. We want it.”
The full report can be downloaded from here.
The authors are available for comment/interview.
Date Added: Monday 16th May 2011